Name

Great Lakes Capital

Legal name

Great Lakes Capital, LLC

Website

https://greatlakescapital.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Real Estate Private Equity & Development

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Commercial real estate development
• Real estate private equity
• Investment fund management
• Mixed-use development
• Industrial real estate

Headquarters

HQ city

South Bend

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Development: Development fees, property sales, and asset management from commercial real estate projects including multifamily, industrial, mixed-use, hospitality, and healthcare developments throughout the Midwest.
2. Investment Fund Management: Fund management fees from private equity funds including Green River Acquisitions LLC and GLC Stabilized Income Fund I. Capital appreciation through equity investments in real estate development projects.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Great Lakes Capital develops, redevelops, and invests in commercial real estate across multifamily, industrial, mixed-use, hospitality, healthcare, office, and retail asset classes throughout the U.S. Midwest. The firm also manages private equity investment funds (GLC Stabilized Income Fund I and Green River Acquisitions LLC) that deploy capital into its development pipeline and offer investment access to accredited investors through a proprietary online portal.

Product overview

Great Lakes Capital is a real estate private equity firm offering two primary product lines: (1) Real estate development services across multifamily, industrial, mixed-use, office, retail, medical office, and hospitality asset classes throughout the Midwest, and (2) Private equity investment fund management through the GLC Stabilized Income Fund I (open-end, Q3 2017) and Green River Acquisitions LLC (Q3 2021). The company's development portfolio includes major mixed-use projects like Madison Lifestyle District ($102M, South Bend), The Plaza at Pinnacle Hills ($110M, Rogers AR), GrandView Expansion ($175M, Granger), and various industrial spec developments through the Industrial Partners USA joint venture. Notable hospitality projects include Hotel Vin at Pinnacle Hills ($72M, Marriott Autograph Collection). The firm also provides investor access through a proprietary investment portal and has expanded into workforce and affordable housing through initiatives like Maple Block Flats (Petoskey, MI) and Red Arrow Bluffs (Lincoln Township, MI).

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Development Services End-to-end real estate development services covering site acquisition, entitlements, public-private partnership structuring, construction, and asset management across multifamily, industrial, mixed-use, hospitality, healthcare, office, and retail asset classes in Midwest U.S. markets for institutional investors, commercial tenants, and municipal partners.
• GLC Stabilized Income Fund I Open-end private equity investment fund focused on stabilized and stabilizing real estate assets, emphasizing current coupon distributions to accredited investors.
• Green River Acquisitions, LLC Private investment vehicle investing primarily in residential real estate assets in Wyoming and Idaho, including single family, duplex, and multi-unit projects offered for lease.
• GLC Investment Portal Online investor portal at invest.greatlakescapital.com providing accredited investors with access to investment opportunities, capital commitment workflows, and portfolio information for Great Lakes Capital funds and projects.
• Industrial Partners USA (IPUSA) Speculative Industrial Development Joint venture speculative industrial development program along the I-94 and I-80/90 corridors in Southwest Michigan and Northern Indiana, delivering Class A distribution and industrial facilities to enterprise tenants.
• Madison Lifestyle District $102 million mixed-use redevelopment project in downtown South Bend, Indiana delivering 240 apartment units, a 100-room hotel, and 40,000+ square feet of commercial space south of Memorial Hospital.
• Maple Block Flats / The Block at Petoskey 204-unit multifamily workforce housing development in Petoskey, Michigan redeveloping the former Michigan Maple Block factory site with Brownfield and Michigan Strategic Fund incentives.
• The Plaza at Pinnacle Hills $110 million upscale mixed-use development in Rogers, Arkansas featuring 304 luxury apartments and 18,000 square feet of retail anchored by a two-story Ruth's Chris Steak House.
• Hotel Vin at Pinnacle Hills $72 million, 125-room Autograph Collection Hotel by Marriott in Rogers, Arkansas with restaurant, rooftop bar, pool, and meeting/event space, developed in partnership with Coury Hospitality.
• GrandView Expansion $175 million mixed-use expansion at SR 23 and Gumwood in Granger, Indiana featuring 246 apartment residences, 66 townhomes, a 125-room hotel, restaurants, retail, and greenspace.
• Red Arrow Bluffs 200-unit residential workforce housing development in Lincoln Township, Michigan targeting attainable housing for teachers, police officers, and skilled tradespeople.
• Park 24 (24 Marble Street) Speculative Industrial 400,000 square foot speculative industrial warehouse on a 23-acre brownfield site in Hammond, Indiana leveraging a $5.85 million Industrial Recovery Tax Credit incentive.
• Portage Prairie Industrial Park Series of speculative industrial buildings at the Ameriplex at I-80/90 business park in South Bend, Indiana, including Portage Prairie IV (166,500 SF) and Portage Prairie V (296,000 SF), leased to industrial and logistics tenants.
• Battle Creek Phase 2 Spec Industrial Building 504,000 square foot industrial speculative building in Battle Creek, Michigan with a $20 million investment, 32-foot ceilings, and 34 dock doors, delivered through the Industrial Partners USA joint venture.
• West End Lofts 91-unit mixed-use development in downtown Traverse City, Michigan with 5,000 square feet of commercial space and 87 below-grade parking spaces.
• Michigan City Light Industrial Development $29 million light industrial development totaling 300,000 square feet across multiple buildings at the I-94 and U.S. 421 interchange in Michigan City, Indiana.
• The Signature Carmel 295-unit market-rate apartment community in Carmel, Indiana featuring a 4-level parking garage, 14,654 square feet of ground-floor commercial space, and luxury amenities.
• Viridian Shores – Harbor 31 $34 million mixed-use development on Muskegon Lake featuring 130 apartment units, 32 single-family lots, and boat storage units.
• Skyline Tower 12-story luxury apartment building in downtown Fort Wayne, Indiana that has reached 100% occupancy under Great Lakes Capital ownership and operations.

Quantifiable outcome

• $7 billion+ in commercial real estate investment closed across all property types and capital structures
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Coury HospitalitycoreStrategic or Co-development Partner · 1 October 2024Development partnership for Hotel Vin Pinnacle Hills, a $72 million Autograph Collection Hotel by Marriott in Rogers, Arkansas. Coury Hospitality provides hotel management and operates the Vin Hotel Collection brand.
• Industrial Partners USA (Joint Venture with Clark Logic)coreStrategic or Co-development Partner · 1 January 2019Joint venture between Great Lakes Capital and Clark Logic formed in 2019 to develop speculative industrial projects in Southwest Michigan. Has grown to 4 property acquisitions with over 3,000,000 SF of distribution and industrial space in pipeline. First project was a 270,000 SF spec building in Battle Creek that was fully leased.
• Tegethoff DevelopmentcoreStrategic or Co-development PartnerPartnership on WildHorse mixed-use development in Chesterfield, MO - an $85 million project featuring AC Hotel by Marriott, 188-unit luxury apartments, and Ruth's Chris Steak House.
• Beacon Health SystemscoreStrategic or Co-development PartnerCollaboration on Madison Lifestyle District, a $102+ million mixed-use development in downtown South Bend that will bring 200+ apartments, 100-room hotel, and retail space.
• CRG ResidentialminorStrategic or Co-development PartnerPartnership on Jordan Creek development in West Des Moines, Iowa - a mixed-use project with 199 luxury units and Ruth's Chris restaurant.
• Schahet Hotels, LLCminorStrategic or Co-development PartnerPartnership to develop AC Hotel by Marriott in Chesterfield, MO as part of WildHorse mixed-use campus.
• Battle Creek Unlimited (BCU)coreStrategic or Co-development PartnerStrategic partner for industrial development at Fort Custer Industrial Park. BCU sold 55+ acres to Industrial Partners USA for spec industrial development along I-94 corridor.
• Southwest Michigan FirstminorStrategic or Co-development PartnerEconomic development organization providing site selection and business growth services. Supports IPUSA industrial projects in Southwest Michigan through tenant attraction and regional connections.
• Michigan Growth Advisors (MGA)minorStrategic or Co-development PartnerAssisted with incentives and financial structuring for Portage industrial project to fill feasibility gaps in challenging construction cost and interest rate environment.
• City of PortageminorStrategic or Co-development PartnerSupported Industrial Partners USA project through brownfield plan utilizing tax increment revenues to offset nearly $2 million in non-environmental site preparation activities.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• TWG Development: Indianapolis-based real estate private equity and development firm focused on multifamily, mixed-use, and commercial projects across the Midwest. Directly comparable to GLC in geography, asset class mix, and developer-investor dual model.
• Milhaus: Indianapolis-headquartered vertically integrated multifamily developer and investor operating across the Midwest. Closely comparable in size, regional focus, and product type (market-rate and mixed-use multifamily).
• The NRP Group: Cleveland-based multifamily and affordable housing developer with national reach and significant LIHTC/LIHTC-syndications expertise. Comparable to GLC's GLC Affordable division and workforce housing developments.
• Flaherty & Collins Properties: Indianapolis-based multifamily and mixed-use developer with a national footprint but strong Midwest concentration. Comparable as a regional multifamily developer that builds, owns, and manages Class-A housing and mixed-use communities.
• Herman & Kittle Properties: Indianapolis-based multifamily developer, owner, and manager with deep Midwest roots. Similar firmographic profile and product type to GLC's multifamily developments.

Others

• JLL Capital Markets: Global CRE capital markets advisor handling debt placement, equity placement, and recapitalizations. Relevant as an adjacent capital-markets participant that competes for institutional deal flow GLC's funds need to access at exit.

Broad incumbents

• Bridge Investment Group: Nationally scaled real estate private equity manager with multifamily, workforce housing, and affordable housing verticals. A larger incumbent in the same space GLC Affordable operates in.
• Kite Realty Group: Indianapolis-based publicly traded REIT focused on open-air shopping centers and mixed-use development. A larger regional incumbent with overlap in GLC's mixed-use retail-anchored developments.
• Crow Holdings: Large Dallas-based real estate investment and development firm with multifamily, industrial, and mixed-use strategies nationally. Comparable business model (developer + fund manager) at much greater scale.

Regional players

• The Lauth Group: Indianapolis-based commercial real estate development and investment firm with a similar Midwest operating footprint. Comparable as a regional CRE developer-though broader in asset class and longer-established.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/great-lakes-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Lakes Capital